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Comcast Q1 Earnings Soar 30 Percent (CMCSA)

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Comcast CorporationComcast Corp. (NASDAQ: CMCSA) announced its fiscal first quarter earnings on Wednesday which surpassed Wall Street expectations. The Company said that its earnings increased by 30% in the period thanks mainly to advertising in Super Bowl and its popular broadband services.

Headquartered in Philadelphia, Comcast reported that its net income soared to $1.224 billion, or 45 cents per share, for the January to March period up from $943 million, or 34 cents per share, a year ago.


Analysts polled FactSet Research were estimating earnings of 42 cents a share for the period.

Meanwhile, company’s revenues rose to t $14.9 billion, above analysts’ expectation of $14.4 billion.

Comcast acquisition of a majority stake in NBC Universal- which owns TV channels and movie studios, closed at the end of January last year- proved to be sound strategic decision as it was shown by the results.

Revenues from NBC Universal accounts only one third of the total Comcast revenues but the pace of growth  in revenues was faster from the former. Revenues from NBC Universal grew 18% from last year. Meanwhile revenues from NBC broadcast business soared 37% percent, thanks to Super Bowl advertising.

Excluding the Super Bowl, NBC’s revenue climbed up 17 percent, helped by better prime-time ratings and shows like “The Voice” and “Smash.”

At Universal Studios, revenue leaped 22 percent following the theatrical success of “Dr. Seuss’ The Lorax” and “Safe House.”

Comcast’s cable business revenue grew at lower pace though — an increase of 5.7 percent from last year.

Comcast added 439,000 subscribers in the quarter- a best quarterly performance in last four years.

The Company shares fell 0.16% on Wednesday, trading at $30.42.

 

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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